SoFi Technologies (NASDAQ:SOFI) Trading Up 1.9% – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price shot up 1.9% during mid-day trading on Monday . The stock traded as high as $17.75 and last traded at $17.65. Approximately 32,526,706 shares changed hands during trading, a decline of 51% from the average daily volume of 66,027,734 shares. The stock had previously closed at $17.32.

Analysts Set New Price Targets

SOFI has been the subject of several recent analyst reports. Weiss Ratings upgraded SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Mizuho lowered their price target on SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Needham & Company LLC dropped their price target on SoFi Technologies from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Morgan Stanley cut their price objective on SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating for the company in a report on Thursday, July 30th. Finally, Scotiabank started coverage on shares of SoFi Technologies in a research report on Wednesday, September 2nd. They issued a “sector outperform” rating and a $25.00 price objective on the stock. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, SoFi Technologies presently has an average rating of “Hold” and a consensus price target of $22.52.

SoFi Technologies Price Performance

The business’s fifty day moving average price is $17.83 and its 200-day moving average price is $17.41. The company has a market capitalization of $22.80 billion, a P/E ratio of 36.77, a P/E/G ratio of 1.42 and a beta of 2.20. The company has a current ratio of 0.74, a quick ratio of 0.10 and a debt-to-equity ratio of 0.30.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The firm’s revenue was up 42.5% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.61 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Kelli Keough sold 11,286 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $18.00, for a total transaction of $203,148.00. Following the transaction, the executive vice president directly owned 356,442 shares in the company, valued at approximately $6,415,956. This represents a 3.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the completion of the sale, the chief technology officer owned 895,089 shares of the company’s stock, valued at $15,914,682.42. The trade was a 10.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 136,505 shares of company stock worth $2,418,096 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors have recently made changes to their positions in SOFI. BlackRock Inc. purchased a new stake in SoFi Technologies during the 2nd quarter valued at about $1,298,925,000. California State Teachers Retirement System increased its stake in SoFi Technologies by 1,603.2% in the 2nd quarter. California State Teachers Retirement System now owns 31,201,069 shares of the company’s stock worth $559,435,000 after purchasing an additional 29,369,164 shares during the period. Norges Bank purchased a new position in SoFi Technologies in the 4th quarter worth approximately $321,515,000. Bank of America Corp DE bought a new stake in SoFi Technologies in the second quarter valued at approximately $163,808,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in SoFi Technologies in the second quarter valued at approximately $93,937,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc is a financial technology company that provides digital financial services to consumers in the United States. The company began in 2011 as a platform focused on student loan refinancing and has expanded into a broader range of lending, banking and investment products.

Through its SoFi platform, the company offers personal loans, student loans, home loans, checking and savings accounts, credit cards, brokerage and investing services, and financial planning tools. Its products are primarily delivered through digital channels, including its website and mobile applications.

SoFi also operates a technology platform business through Galileo Financial Technologies and Technisys, which provide payment, account-management and other financial infrastructure to banks, fintech companies and other businesses.